Rental Rates • Section 4
was the highest at $248.28—a rate that was $51.89 above the national average and almost $100 more than the $152.19 rental rate for 10-by-20s in the Southwest. Although the Southwest reported the lowest
rates for all non-climate-
controlled unit sizes, the Midwest was not garnering much more, with rental rates only a few dollars above those of the Southwest.
Despite the fact that the Northeast was the price leader for
climate-controlled units of all sizes, Table 4.4 indicates a dif- ferent trend than Table 4.5 in terms of pricing. The West had the second highest rental rates for climate-controlled 5-by-5s, 5-by-10s, and 10-by-10s, but came in third for 10-by-15s and 10-by-20s. While rates for climate-controlled 10-by-15s and 10-by-20s in the South Atlantic were second to the Northeast, they were below and tied with the national average at $206.78 and $255, respectively. In addition, the Southwest had the third highest rental rates for climate-controlled 5-by-5s, 5-by-10s, and 10-by-10s.
On the other end of the size scale, the
10-by-20 units in the Midwest were $233.25, or almost $100 less than the $332.33 rate for climate-controlled units of the same size in the Northeast.
Taking fourth place was the South West region, while the
Midwest had the lowest rates for climate-controlled units. Of all reported rates for climate-controlled units, 5-by-5s in the
Table 4.4 – National & Regional Rental Rates (Non-Climate-Controlled)
Region
Midwest $43.47 Northeast $65.68 South Atlantic
Southwest $42.46 West $61.10 National
5 x 5 5 x 10 10 x 10 10 x 15 10 x 20 $63.08
$98.13
$101.18 $157.94
$96.55 $143.90
$129.21 $200.12
$124.73 $188.83
$154.07 $248.28
$50.36 $71.76 $114.78 $148.23 $183.37 $61.82 $88.06
$152.19 $230.23
$56.87 $79.12 $125.24 $162.22 $196.39 Source: © 2015 REIS, INC.
Table 4.5 – National & Regional Rental Rates (Climate-Controlled)
Region
Midwest $60.35 Northeast $85.89 South Atlantic
5 x 5 5 x 10 10 x 10 10 x 15 10 x 20 $90.14
$130.43 Southwest $55.95
West $68.52 $101.42 National
$149.24 $205.65
$137.12 $157.30
$193.75 $270.85
$180.50 $201.48
$233.25 $332.33
$64.32 $96.38 $156.57 $206.78 $255.00 $83.33
$226.29 $244.01
$71.14 $101.52 $159.95 $208.45 $255.00 Source: © 2015 REIS, INC.
Midwest were the least at $60.35—$10.79 below the national av- erage and $25.54 behind the Northeast’s rental rate of $85.89 for climate-controlled 5-by-5s. On the other end of the size scale, the 10-by-20 units in the Midwest were $233.25, or almost $100 less than the $332.33 rate for climate-controlled units of the same size in the Northeast.
A look at these regional rental rates by square foot (per 100
square feet), as seen in Table 4.6a and 4.6b, shows that the North- east enjoyed rates of $1.58 for non-climate-controlled units and
Table 4.6a – Regional Rental Rates
by Square Foot (Per 100 Square Feet)
Non-
Region & Year
Climate- Controlled
Midwest 2011 Q4 $0.88 2012 Q1 2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2015 Q1 2015 Q2
$0.89 $0.90 $0.90 $0.91 $0.91 $0.92 $0.94 $0.93 $0.94 $0.98 $0.98 $0.97 $0.98 $1.01
Northeast 2011 Q4 $1.41 2012 Q1 2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2015 Q1 2015 Q2
$1.41 $1.42 $1.43 $1.43 $1.44 $1.45 $1.46 $1.44 $1.47 $1.52 $1.52 $1.49 $1.52 $1.58
South Atlantic 2011 Q4 $1.02 2012 Q1 2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2015 Q1 2015 Q2
$1.02 $1.03 $1.05 $1.04 $1.05 $1.06 $1.06 $1.05 $1.06 $1.09 $1.10 $1.09 $1.11 $1.15
Source: © 2015 REIS, INC.
Climate- Controlled
$1.28 $1.29 $1.31 $1.33 $1.34 $1.34 $1.36 $1.38 $1.36 $1.39 $1.43 $1.44 $1.42 $1.43 $1.49
$1.80 $1.80 $1.82 $1.82 $1.82 $1.83 $1.85 $1.88 $1.86 $1.89 $1.96 $1.97 $1.94 $1.98 $2.06
$1.38 $1.38 $1.40 $1.41 $1.40 $1.41 $1.42 $1.43 $1.41 $1.44 $1.49 $1.49 $1.47 $1.50 $1.57
Region & Year
Table 4.6b – Regional Rental Rates
by Square Foot (Per 100 Square Feet)
Non-
Climate- Controlled
Southwest 2011 Q4 $0.81 2012 Q1 2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2015 Q1 2015 Q2
$0.82 $0.83 $0.85 $0.85 $0.85 $0.88 $0.89 $0.88 $0.89 $0.92 $0.92 $0.91 $0.93 $0.97
West 2011 Q4 $1.24 2012 Q1 2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2015 Q1 2015 Q2
$1.25 $1.27 $1.28 $1.28 $1.29 $1.30 $1.31 $1.30 $1.33 $1.36 $1.37 $1.36 $1.39 $1.44
National 2011 Q4 $1.09 2012 Q1 2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2015 Q1 2015 Q2
$1.10 $1.11 $1.12 $1.12 $1.13 $1.14 $1.15 $1.14 $1.16 $1.19 $1.20 $1.18 $1.21 $1.25
Source: © 2015 REIS, INC. 2016 Self-Storage Almanac 51
Climate- Controlled
$1.16 $1.16 $1.19 $1.21 $1.21 $1.22 $1.25 $1.27 $1.25 $1.27 $1.31 $1.32 $1.29 $1.31 $1.37
$1.41 $1.41 $1.42 $1.43 $1.43 $1.44 $1.46 $1.47 $1.46 $1.47 $1.50 $1.51 $1.50 $1.53 $1.57
$1.40 $1.40 $1.42 $1.43 $1.43 $1.44 $1.46 $1.47 $1.46 $1.48 $1.52 $1.53 $1.51 $1.54 $1.60
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